Tyers Asset Management LLC boosted its position in Conagra Brands (NYSE:CAG) by 13.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 319,344 shares of the company’s stock after purchasing an additional 37,152 shares during the quarter. Tyers Asset Management LLC owned about 0.08% of Conagra Brands worth $11,778,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAG. Brown Advisory Inc. acquired a new position in Conagra Brands in the 4th quarter valued at $63,808,000. Bank of New York Mellon Corp raised its stake in Conagra Brands by 19.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,376,444 shares of the company’s stock valued at $353,210,000 after purchasing an additional 1,528,107 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Conagra Brands by 71.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,457,526 shares of the company’s stock valued at $90,635,000 after purchasing an additional 1,022,437 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in Conagra Brands in the 4th quarter valued at $35,796,000. Finally, State of Tennessee Treasury Department raised its stake in Conagra Brands by 766.7% in the 4th quarter. State of Tennessee Treasury Department now owns 980,151 shares of the company’s stock valued at $36,922,000 after purchasing an additional 867,057 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on CAG shares. Zacks Investment Research raised Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Thursday, February 22nd. Jefferies Group restated a “buy” rating and issued a $44.00 target price on shares of Conagra Brands in a report on Thursday, March 22nd. Royal Bank of Canada restated a “buy” rating and issued a $46.00 target price on shares of Conagra Brands in a report on Friday, March 23rd. JPMorgan Chase dropped their target price on Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, March 23rd. Finally, UBS upped their target price on Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, March 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $41.67.
Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, March 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.05. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2 billion. Conagra Brands had a return on equity of 21.08% and a net margin of 11.36%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. equities analysts expect that Conagra Brands will post 2.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Monday, April 30th will be issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, April 27th. Conagra Brands’s dividend payout ratio is presently 48.85%.
In other news, Director Stephen G. Butler sold 12,092 shares of the stock in a transaction on Friday, April 6th. The stock was sold at an average price of $37.18, for a total transaction of $449,580.56. Following the completion of the transaction, the director now directly owns 127,755 shares in the company, valued at approximately $4,749,930.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ruth Ann Marshall sold 6,046 shares of the stock in a transaction on Monday, March 26th. The stock was sold at an average price of $35.86, for a total value of $216,809.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,046 shares of company stock valued at $885,695. Company insiders own 0.79% of the company’s stock.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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